June 23, 2015

Governance

Budget & Expense Management

The OMERS Sponsors Corporation (SC) concluded that it will not be necessary to implement a levy in the foreseeable future. In addition, the SC will no longer fund the costs of SC Members who incur expenses related to the supplemental decision-making mechanism provided for by the OMERS Act. This change provides a further incentive to avoid supplemental decision-making.

With this change and related measures developed in collaboration with the OMERS Administration Corporation, the SC has concluded that it is not necessary to levy plan members and employers at this time (see February 19).

Should the circumstance arise that a levy must be implemented at some time in the future the SC will provide as much advance notice as possible.

Strategic Planning

The SC received further reports on several issues and ideas contemplated under the 2015 strategic planning exercise. Direction was provided to management but the SC was not asked to make decisions at this early stage.